BellSouth Profit Climbs 46%

In sharp contrast to the downbeat earnings reports from AT&T Corp. (NYSE: T) and SBC Communications Inc. (NYSE: SBC) this week, BellSouth Corp. (NYSE: BLS) today posted a 46 percent jump in third-quarter profit, driven by growth in its Latin American and long-distance businesses (see BellSouth Reports Q3, AT&T's Q3 a Real Puzzler, No Glee in SBC Q3).

The Atlanta-based RBOC reported a net income of $936 million, or 51 cents per share, compared with $640 million, or 34 cents per share, a year earlier. Excluding one-time items, BellSouth earned 53 cents per share, beating Wall Street consensus forecasts of 50 cents per share. Revenue for the quarter rose 5 percent to $5.72 billion, from $5.43 billion in the year-ago period.

BellSouth cited strong growth for wireless services in Latin America, where the company added 1.4 million customers year-over-year, boosting revenues by nearly 19 percent to $588 million.

To learn how the rest of BellSouth's quarter stacked up, read the full story on our sister site, Boardwatch. — Jo Maitland, Senior Editor, Boardwatch

BobbyMax 12/4/2012 | 11:19:24 PM
re: BellSouth Profit Climbs 46% The RBOCs are out of control. There are no austerity measurs within the companies to reduce the cost. Of all the RBOCs. SBC has gone out of control. It is not able to trim its idle workforce (programmers, technicians, project managers and other redundant employees. Its profits and the share value is down by almost 80%. Mr. Whittaker is unable to trim the work force and reduce expenses. Every year this guy has been making nearly $12 million. This salary cannot be justified.
Passenger 12/4/2012 | 11:19:23 PM
re: BellSouth Profit Climbs 46% Bobby Max, if you were any dumber your head would implode. By the way the article was about BellSouth not SBC.
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